Man FRM Middle Office Accountant
About Man Group
Man Group is a global active investment management firm, which runs $114.1bn* of client capital in liquid and private markets, managed by investment specialists based around the world. Headquartered in London, the firm has 15 international offices and operates across multiple jurisdictions. Our business has five specialist investment engines, which represent the range of our capabilities: Man AHL, Man Numeric, Man GLG, Man FRM and Man GPM.
These engines house numerous investment teams, working collaboratively within the framework of Man Group, with a high degree of investment autonomy. Each team benefits from the strength and resources of the firm's single operating platform, enabling their primary focus to be seeking to generate alpha for clients. The teams invest across a diverse range of strategies and asset classes with highly specialised approaches, with long only and alternative strategies run on a discretionary and quantitative basis in single and multi-manager formats. Our clients are at the heart of everything we do and we engage in close dialogue with our investors as strategic partners, to understand their particular needs and constraints. Man Group's investment teams are empowered and supported by our institutional infrastructure and technology, which aims to facilitate the efficient exposure to markets and effective collaboration across the organisation.
Through the Man Charitable Trust and sponsorship of the Man Booker Prizes, Man Group is committed to promoting literacy and numeracy on a global scale, and to supporting charitable causes more broadly.
Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN and is a constituent of the FTSE 250 Index. Further information can be found at www.man.com.
*As at 30 September 2018. All investment management and advisory services are offered through the investment "engines" of Man AHL, Man Numeric, Man GLG, Man FRM and Man Global Private Markets (GPM).Purpose of the role
This is an exciting opportunity for a motivated investment professional to join a fast growing business within Man Group, with responsibility for a diverse and evolving set of fund structures. The FRM Middle Office Accountant is primarily responsible for assisting the business by providing oversight of the outsourced Fund of Hedge Funds Middle Office function responsible for facilitating accurate trading data visible to the Portfolio Management team. They will report to the Head of FRM Middle Office Accounting. The role requires working closely with the Man FRM Front office, other Man group professionals and our service providers.
- Oversight of Outsourced Middle Office Provider
- Perform control checks over the daily valuation data feeds into Man (Day to day market value, NAV per share movements, Rate of Return checks)
- Approval of daily, weekly and monthly dealing funds valuations based on P&L analysis and performing key controls
- Monitoring of aged accruals, cash levels and fund fee activity
- Proactive query management and issue resolution
- Liquidity Management
- Cash projection forecasting
- Calculation and execution of credit activity with external finance providers
- Direct communication with Portfolio Managers about upcoming liabilities
- Money market trading
- Pricing - Monitoring of stale pricing and referring non-standard pricing issues to valuation committee for review where appropriate. Ensure the quality and effectiveness of the pricing governance and controls are maintained
- FX Hedging - Oversight of FX Hedging based on expected feeder returns and share class returns
- Rebates - Monitoring of rebate arrangements within the funds valuations (both from internal Man and external managed hedge funds)
- KPIs - Review and appraise service provider performance versus key performance indicators
- Query management - Confidently and effectively manage queries with both internal and external senior stakeholders
- Issue Resolution - Point of contact for resolution of issues relating to valuation data from both internal and external stakeholders including clients, client services, client reporting and regulatory reporting
- Projects - Represent the team on wider Man projects such as system enhancements and regulatory change integration. Capable of chairing and presenting meetings and tracking actions until closed
- Reporting - Prepare reporting, fund updates and MIS to internal stakeholders
- Process Improvement - Drive efficiencies and improve controls by reviewing existing systems, processes, procedures and MIS to identify areas of possible enhancements
- Professional qualifications: Qualified / part-qualified with a relevant professional body (ACA/ACCA/CIMA/CFA) desirable
- Background: Fund of Hedge Fund (strongly preferred) / Investment Management / Investment Banking / Fund Administration
- Experience: Operations / Fund Accounting / Valuations / FX hedging / Equalisation
- Systems: Confident and proficient user of desktop and bespoke technology
- Accuracy and attention to detail
- Advanced excel skills required